Greenfield Municipal Code Art. IX Rights Reserved to the Grantor

Upon the revocation of the franchise in accordance with Section 5.24.170 or 5.24.180, and upon the expiration of the terms thereof subject to the renewal provisions of Section 5.24.120, and upon payment by the grantor to the grantee of the fair market value of grantee's cable communications system, grantor may purchase, acquire, take over or hold the system. For purposes of this section, "fair market value" shall be determined as value arrived at with a willing seller and a willing buyer mutually agreeing upon a price. Such price shall take into consideration as value: tangible and intangible assets of the system, including business goodwill, current and potential customers, and a condition as an ongoing business concern with a reasonable life expectancy without regard to the remaining term of the franchise. Such right to purchase system by the grantor shall be governed by Section 627 (Conditions of Sale) contained within the Communications Policy Act of 1984. Immediately upon determination of revocation or expiration of the franchise, other than when a renewal or extension of franchise between grantor and grantee, grantor and grantee may attempt to mutually agree upon the fair market value of the system. However, if within a reasonable period of time they cannot agree upon the fair market valuation, then the valuation may be determined by a three-member board of appraisers, one selected by the grantor, one selected by the grantee, and one selected by the appraisers themselves. The cost of the appraisal shall be borne equally by the grantor and the grantee.

(Ord. 322 § 9.0, 1986)

Subject to applicable federal or state law, nothing in this chapter shall in any way, or to any extent, impair or affect the rights of grantor to acquire grantee's property either by purchase or through exercise of the right of eminent domain, and nothing herein shall be construed to contract away, or to modify, or abridge grantor's right of eminent domain with respect to any grantee. Nor shall any franchise ever be given any value before any court of public authority in any proceeding of any character, except for purposes of taxation.

(Ord. 322 § 9.1, 1986)

Grantor shall have the right to inspect all construction or installation work performed subject to the provisions of the franchise and to make such tests as it shall find necessary to ensure compliance with the terms of the franchise and other pertinent provisions of law. Grantor shall perform such inspections and testing by competent and knowledgeable personnel who are recognized as capable of performing to industry standards. Such activity shall not be unreasonable as to time or interference with the personnel or equipment used by the grantee.

(Ord. 322 § 9.02, 1986)